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New Development Bank to issue yuan bonds in China

Xinhua, June 13, 2016 Adjust font size:

The New Development Bank (NDB) plans to raise yuan-denominated funds in China as it seeks financing denominated in currencies from its members, the lender's vice president said on Monday.

The New Development Bank, founded by Brazil, Russia, India, China and South Africa and headquartered in Shanghai, is preparing its first bond issue, which will be in China and denominated yuan, said NDB vice president Zhu Xian at the Lujiazui financial forum in Shanghai.

Zhu said while the bank will raise dollars and other major currencies, it wants more funds in member's currencies.

The bank's board approved four green energy projects in April, which Zhu claims reflects the bank's commitment to sustainable development. Endi